BrightSpire Capital (NYSE:BRSP) PT Lowered to $7.00 at Barclays

BrightSpire Capital (NYSE:BRSP) had its price target decreased by Barclays from $8.00 to $7.00 in a research note released on Thursday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Separately, Bank of America lowered BrightSpire Capital from a neutral rating to an underperform rating and set a $6.50 price target on the stock. in a report on Monday, March 4th.

BrightSpire Capital Price Performance

NYSE BRSP opened at $6.02 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.48 and a quick ratio of 0.55. The business has a 50 day simple moving average of $6.59 and a 200 day simple moving average of $6.76. BrightSpire Capital has a 52-week low of $5.20 and a 52-week high of $8.01.

BrightSpire Capital (NYSE:BRSP) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.02). The company had revenue of $27.43 million for the quarter, compared to the consensus estimate of $28.64 million. BrightSpire Capital had a positive return on equity of 9.36% and a negative net margin of 33.20%. During the same period in the prior year, the company earned $0.26 EPS. As a group, analysts forecast that BrightSpire Capital will post 0.9 EPS for the current fiscal year.

BrightSpire Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 13.29%. The ex-dividend date was Wednesday, March 27th. BrightSpire Capital’s dividend payout ratio (DPR) is currently -145.45%.

Insiders Place Their Bets

In other news, insider David A. Palame sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $6.76, for a total value of $338,000.00. Following the completion of the transaction, the insider now owns 347,832 shares in the company, valued at approximately $2,351,344.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.91% of the company’s stock.

Institutional Trading of BrightSpire Capital

Several institutional investors and hedge funds have recently bought and sold shares of BRSP. Allspring Global Investments Holdings LLC increased its position in shares of BrightSpire Capital by 2,407.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,992 shares of the company’s stock worth $41,000 after purchasing an additional 5,753 shares during the last quarter. Quest Partners LLC bought a new stake in BrightSpire Capital during the fourth quarter worth $45,000. SG Americas Securities LLC acquired a new stake in BrightSpire Capital in the third quarter valued at $63,000. Arlington Trust Co LLC bought a new position in shares of BrightSpire Capital in the 4th quarter valued at about $67,000. Finally, Hudson Valley Investment Advisors Inc. ADV acquired a new position in shares of BrightSpire Capital during the 3rd quarter worth about $75,000. Institutional investors own 56.57% of the company’s stock.

About BrightSpire Capital

BrightSpire Capital, Inc operates as a commercial real estate (CRE) credit real estate investment trust in the United States and Europe. The company operates through Senior and Mezzanine Loans and Preferred Equity; Net Leased and Other Real Estate; and Corporate and Other segments. It focuses on originating, acquiring, financing, and managing a diversified portfolio of CRE debt investments consisting of first mortgage loans, senior loans, debt securities, mezzanine loans, and preferred equity investments, as well as net leased properties.